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Friday SWFI News Roundup, February 27, 2015

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Coller Capital Leads Restructuring of Irving Place Capital Partners III

London-based Coller Capital, a secondaries firm, is leading an investor group to restructure a US$ 2.7 billion fund, Irving Place Capital Partners III, managed by Irving Place Capital Management. The fund was raised before the financial crisis in 2006. Abu Dhabi Investment Authority (ADIA) is rumored to be partnering with Coller Capital on the fund restructuring.

Temasek Welcomes New CEO

Singapore’s Temasek Holdings is the largest shareholder of Standard Chartered PLC. In addition, Temasek does not hold a board seat on the bank. The sovereign wealth fund welcomed the move of Bill Winters replacing Peter Sands as chief executive officer. Winters is the former co-CEO of JP Morgan Chase investment bank.

Federal Retirement Thrift Investment Board Selects Ravindra Deo as New Chief Investment Officer

Ravindra Deo was named chief investment officer of the Federal Retirement Thrift Investment Board (FRTIB). The board oversees the US$ 437 billion Thrift Savings Plan. Deo replaces CIO Tracey Ray on April 1, 2015. Ray had the CIO role for 10 years and is retiring. Deo was the chief investment officer and chief technology officer of New York-based Altura Capital Group. Before Altura Capital Group, Deo held CIO roles at Accessor Capital Management LP (acquired by Forward Management in 2008) and Leland O’Brien Rubinstein Associates, Inc.

Japan and Qatar Investor Group to Evaluate Turkish Energy Projects

An investor group made up of: Mitsubishi Corporation, Marubeni, Chubu Electric Power, Nebras Power and Qatar Holding signed an agreement to look over large-scale energy projects in Turkey. The investor group will analyze and evaluate development projects with regard to lignite power plants.

Angola’s Sovereign Wealth Fund Looks to Diversify its Assets

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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Indigo Ag Raises Series E Round

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Indigo Ag, Inc. raised US$ 250 million in a Series E funding round. The company is focused on creating innovative microbial products that increase crop yields in the face of environmental, disease, and pest stress. The investors in this round include Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund Corporation, and the company’s founder, Flagship Pioneering. After the Series E, in total, Indigo has raised over US$ 650 million.

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